Aurinia Prices US$150.5 Million Public Offering of Common Shares
March 14 2017 - 8:00AM
Business Wire
Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) (TSX:AUP) (“Aurinia”
or the “Company”), a clinical stage biopharmaceutical company
focused on the global immunology market, today announced the
pricing of its underwritten public offering of 22,300,000 common
shares (the “Offering”). The shares are being sold at a public
offering price of US$6.75 per share. The gross offering proceeds to
the Company from this Offering are expected to be approximately
US$150.5 million, before deducting underwriting discounts and
commissions and other estimated offering expenses. All of the
shares are being offered by the Company. The Offering is expected
to close on or about March 20, 2017, subject to the satisfaction of
customary closing conditions.
Leerink Partners LLC and Cantor Fitzgerald & Co.
(collectively, the “Underwriters”) are acting as joint book-running
managers for the Offering. The Company has granted the Underwriters
an option exercisable, in whole or in part, in the sole discretion
of the Underwriters, to purchase 3,345,000 additional shares, for a
period of up to 30 days.
The Offering is subject to customary closing conditions,
including NASDAQ and TSX approvals. For the purposes of the TSX
approval, the Company intends to rely on the exemption set forth in
Section 602.1 of the TSX Company Manual, which provides that the
TSX will not apply its standards to certain transactions involving
eligible inter-listed issuers on a recognized exchange, such as
NASDAQ. The Company intends to use the net proceeds of the Offering
for research and development activities, including Phase 3 clinical
trial activities for lupus nephritis, and working capital
purposes.
The Offering is being made pursuant to a U.S. registration
statement on Form F-10, declared effective by the United States
Securities and Exchange Commission (the “SEC”) on November 5, 2015
(the “Registration Statement”), and the Company’s existing Canadian
short form base shelf prospectus (the “Base Shelf Prospectus”)
dated October 16, 2015. A preliminary prospectus supplement
relating to the Offering has been filed with the securities
commissions in the provinces of British Columbia, Alberta and
Ontario in Canada, and with the SEC in the United States (the
“Preliminary Prospectus”), and a final prospectus supplement
relating to the Offering (together with the Preliminary Prospectus,
Base Shelf Prospectus and the Registration Statement, the “Offering
Documents”) will be filed with the securities commissions in the
provinces of British Columbia, Alberta and Ontario in Canada, and
with the SEC in the United States. The Offering Documents will
contain important detailed information about the securities being
offered. Before you invest, you should read the Offering Documents
and the other documents the Company has filed for more complete
information about the Company and the Offering. Copies of the
Offering Documents will be available for free by visiting the
Company’s profiles on the SEDAR website maintained by the Canadian
Securities Administrators at www.sedar.com or the SEC’s website at
www.sec.gov, as applicable. Alternatively, copies of the prospectus
supplement will be available upon request by contacting Leerink
Partners LLC; Attention: Syndicate Department; One Federal Street;
37th Floor; Boston, MA, 02110, or by phone at 1-800-808-7525, ext.
6142, or by email at syndicate@leerink.com or Cantor Fitzgerald
& Co., Attn: Capital Markets, 499 Park Ave., 5th Floor, New
York, New York 10022, or by telephone at 212-829-7122, or by e-mail
at prospectus@cantor.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities, nor will there be any
sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
ABOUT AURINIA
Aurinia is a clinical stage biopharmaceutical company focused on
developing and commercializing therapies to treat targeted patient
populations that are suffering from serious diseases with a high
unmet medical need. The Company is currently developing
voclosporin, an investigational drug, for the treatment of lupus
nephritis (LN). The Company is headquartered in Victoria, British
Columbia and focuses its development efforts globally.
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version on businesswire.com: http://www.businesswire.com/news/home/20170314005793/en/
Investors:Aurinia Pharmaceuticals Inc.Celia EconomidesHead of IR
&
Communicationsceconomides@auriniapharma.comorMedia:Christopher
Hippolyte, 917-826-2664Christopher.hippolyte@inventivhealth.com
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